1973-74 Oil Price Shock: Posted Prices & OPEC Export Earnings (Iran/Iraq/OECD)_

Dec 1973 Tehran OPEC posted-price jump to $11.60/bbl (>100% increase); the US government's contemporaneous estimate that the 1974 world oil bill would double to ~$100bn; Ford's Oct 1976 letter projecting $125bn 1976 OPEC export earnings; Iraq's parallel post-nationalization revenue boom ($900M 1971 -> ~$8.2bn est.